FINRA is increasing qualification examination fees, and assessing a service charge for any Regulatory Element Continuing Education (Regulatory Element) session taken in a test center located outside the territorial limits of the United States.  The changes take effect on April 2, 2012. FINRA filed the proposed rule changes to Section 4(c) of Schedule A to the FINRA By-Laws for immediate effectiveness - (i) increase qualification exam fees; (ii) assess a service charge for any Regulatory Element session taken in a test center located outside the territorial limits of the United States. Qualification Examination Fees. Under NASD Rules 1021(a) and 1031(a), registration requirements for persons engaged, or to be engaged, in the investment banking or securities business of a FINRA member firm and who are to function as principals or representatives are required to register with FINRA in each category of registration appropriate to their functions as specified in NASD Rules 1022 and 1032. The individuals must pass an appropriate qualification exam before their registration can become effective.  These mandatory qualification exams cover a broad range of subjects regarding financial markets and products, individual responsibilities, securities industry rules and regulatory structure.  FINRA develops, maintains and delivers all qualification exams for individuals who are registered or seeking registration with FINRA. FINRA also administers and delivers exams sponsored (i.e., developed) by MSRB, NASAA, the NFA, FDIC, and other SROs. FINRA Staff Contact. Direct your questions to:  Joe McDonald, Senior Director, Testing and Continuing Education Department - (240) 386-5065. For further details, go to:   [FINRA RegNote12-16, March 2012].